Feb 14, 2019   SOURCE: BusinessWire

Global Bio-succinic Acid Market Outlook, 2019-2023 with BASF, LCY Group, PTT Global Chemical Public Company, Reverdia, Shandong Landian Biological Technologies, and Succinity Leading - ResearchAndMarkets.com

The "Global Bio-succinic Acid Market 2019-2023" report has been added to ResearchAndMarkets.com's offering.

The bio-succinic acid market will register a CAGR of over 35% by 2023.

The increasing focus on the sustainable use of natural resources, the demand for bio-based or renewable chemicals is rising at a rapid rate. As bio-succinic acid is derived from natural resources, it is used as a replacement for building blocks such as adipic acid and phthalic anhydride, which are used to manufacture compounds such as polyols.

The chemical composition of bio-succinic acid is almost similar to adipic acid and exhibits comparable significant characteristics, thereby enabling integration with existing formulations and production process of polyester polyols. The use of bio-succinic acid in the production of polyester polyols increases the renewable content in polyols up to 100%, thereby reducing the environmental impact. Consequently, it reduces the dependency on petroleum raw materials and contributes to sustainability.

Increasing use of bio-succinic acid in 1,4-butanediol (BDO) production

The increasing use of bio-succinic acid in BDO production. BDO accounts for the largest application segment of the global bio-succinic acid market. With the fluctuating prices of conventional fossil fuel-based raw materials and the increasing focus on technologies that reduce carbon footprint, BDO producers are using renewable bio-based raw materials such as bio-succinic acid for BDO production.

High price of bio-succinic acid

The high price of bio-succinic acid poses a serious challenge to the growth of the market under focus. Although the raw materials used to produce bio-succinic acid are renewable, the high processing cost of succinic acid and lengthy extraction process pose serious challenges to bio-succinic acid producers. The availability of raw feedstocks at competitive prices directly contributes to the total production cost.

Competitive Landscape

The market appears to be moderately concentrated and with the presence of few vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.

Key Players

  • BASF
  • LCY Group
  • PTT Global Chemical Public Company
  • Reverdia
  • Shandong Landian Biological Technologies
  • Succinity

Topics Covered

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

PART 03: MARKET LANDSCAPE

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

PART 04: MARKET SIZING

  • Market definition
  • Market sizing 2018
  • Market size and forecast 2018-2023

PART 05: FIVE FORCES ANALYSIS

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry

PART 06: MARKET SEGMENTATION BY APPLICATION

  • Comparison by application
  • BDO - Market size and forecast 2018-2023
  • Polyester polyols - Market size and forecast 2018-2023
  • Plasticizers - Market size and forecast 2018-2023
  • Alkyd resins - Market size and forecast 2018-2023
  • Others - Market size and forecast 2018-2023
  • Market opportunity by application

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

  • Geographic comparison
  • Europe - Market size and forecast 2018-2023
  • North America - Market size and forecast 2018-2023
  • APAC - Market size and forecast 2018-2023
  • South America - Market size and forecast 2018-2023
  • MEA - Market size and forecast 2018-2023
  • Key leading countries
  • Market opportunity

PART 09: DRIVERS AND CHALLENGES

PART 10: MARKET TRENDS

  • Shift to biodegradable polymers
  • Rising demand for bio-based plasticizers
  • Increasing use of bio-succinic acid in solvent-based liquid polyester resins

PART 11: VENDOR LANDSCAPE

  • Overview
  • Landscape disruption
  • Competitive scenario

PART 12: VENDOR ANALYSIS

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • BASF
  • LCY Group
  • PTT Global Chemical Public Company
  • Reverdia
  • Shandong Landian Biological Technologies
  • Succinity

For more information about this report visit https://www.researchandmarkets.com/research/6qtz6d/global?w=4